Nearly $7 million worth of Ethereum has been emptied out of the HEX purchase address in the past few days. A series of 36 transactions, each containing 1,337 ETH, depleted the bulk of the remaining Ethereum which had been sent to the HEX purchase address.
With Ethereum now trading around the $145 mark, that makes the 48,132 ETH worth just under $7 million. Less than a month ago the same coins would have been worth around $5.5 million. Yet Ethereum holders don’t have to worry about a sudden cash-out negatively affecting the price of their coin. Not yet anyway.
Right now, each of those 36 transactions are sitting quietly in 36 different Ethereum addresses – each worth $192,995 each at the time of writing. Unless the owner of these coins faces urgent legal pressure in the near future, there’s a chance they’ll remain in cold storage until ETH hits its next short-term peak.